The director of Auckland Care, a Hampshire-based care provider for people with learning difficulties, mental health needs and autism, has completed a management buyout (MBO) of the company.
Trinity Munowenyu was supported with a £3.8 million funding package from finance provider ThinCats to close the deal.
Commenting on the MBO, he said: “I am pleased and proud of the deal outcome and the resulting organic and acquisitional business expansion prospects ahead of Auckland Care under my regalvanised leadership. I look forward to developing the offering for those needing our services, and thank ThinCats and Christie Finance for enabling me to realise my goals.
“I am particularly encouraged by the fact that I have been able to establish the beginning of what I view as a long-term business relationship with a partner whose solutions-seeking approach to deals is a pleasure to work with as I press ahead with my growth and service-quality improvement program. I will take the opportunity to thank all the staff and management at Auckland Care for supporting me through hard and committed work without which the achievement of this particular development with Thincats would not have been possible.”
Founded in 2001, Auckland Care offers residential, domiciliary and respite care, as well as supported living services for individuals diagnosed with learning difficulties and mental health needs.
The company was introduced to ThinCats by Jimmy Johns of Christie Finance, specialist commercial financial brokerage.
Johns commented: ““Despite the current economic conditions and pandemic, we are delighted by the support provided by ThinCats; they demonstrated a real understanding of the business and plans that Trinity and the Auckland Care Team have for the future. The joined-up approach of ThinCats and Christie Finance to drive this transaction over the line demonstrated a real broker/lender effort.”
Richard Henshaw, director for National Development Healthcare at ThinCats said: “Trinity has been successfully overseeing the day-to-day and overall workings of Auckland Care for quite some time, and this MBO is the natural progression for the company. We are delighted that we have been able to support Trinity and the team at Auckland Care, a great example of a dynamic and forward-thinking business.”